{"id":24007,"date":"2015-02-16T12:07:53","date_gmt":"2015-02-16T12:07:53","guid":{"rendered":"http:\/\/vskills.in\/certification\/blog\/?p=24007"},"modified":"2024-04-03T13:21:09","modified_gmt":"2024-04-03T07:51:09","slug":"pricing","status":"publish","type":"post","link":"https:\/\/www.vskills.in\/certification\/blog\/pricing\/","title":{"rendered":"Pricing"},"content":{"rendered":"<p style=\"text-align: center\"><a ref=\"magnificPopup\" href=\"http:\/\/vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/02\/pricing.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-24917\" alt=\"pricing\" src=\"http:\/\/vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/02\/pricing.jpg\" width=\"279\" height=\"180\" \/><\/a><\/p>\n<p>Pricing represents the exchange value of goods and services in terms of money. It is an important component of marketing mix of a firm.\u00a0 Determining the prices of different products of a firm is a very difficult task of the marketing manager simply because a new product has never had a price before.<\/p>\n<p>The marketing manager has to do a lot of exercise to determine its price. He may pull a price out of the air because it sounds right but this approach may lead to the failure of the firm because low pricing would lead to huge losses and high pricing may turn the firm out of the market.<\/p>\n<p>The marketing manager may also decide to follow the competition or may decide simply to charge as much as he can get. Both these approaches are also not sound and they may threaten to undermine the long run survival of the firm.<\/p>\n<p><strong>An innovative marketing manager determines the prices in such a way that the firm is able to sell its products successfully and achieve its overall objectives<\/strong>. He tries to maintain optimum relation between pricing and other components of the marketing!<\/p>\n<p><a href=\"http:\/\/www.vskills.in\/certification\/Marketing\">Click here for government certification in Marketing<\/a><\/p>\n<p><a href=\"http:\/\/www.vskills.in\/certification\/Management\">Click here for government certification in Management<\/a><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pricing represents the exchange value of goods and services in terms of money. It is an important component of marketing mix of a firm.\u00a0 Determining the prices of different products of a firm is a very difficult task of the marketing manager simply because a new product has never had a price before. The marketing&#8230;<\/p>\n","protected":false},"author":492,"featured_media":24917,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_joinchat":[],"footnotes":""},"categories":[1533,718],"tags":[],"class_list":["post-24007","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-management-2","category-marketing"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Pricing - Vskills Blog<\/title>\n<meta name=\"description\" content=\"How does the pricing of a product or a service vary its performance in the market?\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.vskills.in\/certification\/blog\/pricing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pricing - 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